Shangri-La Asia announced a smaller loss in FY2022

Shangri-La Asia announces smaller loss in FY2022, NAV falls 10.4% to US$1.47 per share.

Shangri-La Asia announced a net loss of US$158.5 million for FY2022, which is considerably lower than the net loss in FY2021 of US$290.6 million. Nonetheless, net asset value declined by 10.4% y-o-y to US$1.47.

Shangri-La owns or leases 83 hotels, and manages a further 22 hotels, with five hotels under development.

Although travel rebounded in Southeast Asia, and the group's most iconic property is Shangri-La Hotel Singapore, by valuation, more than half of its assets are in China and Hong Kong, with the rest spread across Asia-Pacific. China was closed for much of 2022 because of its zero-Covid policy. 
 

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